hI FRNDS.!!!!!!!!!!11
can any one give depreciation rate for Live stock ????????
Live stock dep rate
CA Vanamala Phani Kumar (Proprietor of M/s Vanamala and Co) (972 Points)
19 March 2012
CA Vanamala Phani Kumar (Proprietor of M/s Vanamala and Co) (972 Points)
19 March 2012hI FRNDS.!!!!!!!!!!11
can any one give depreciation rate for Live stock ????????
Mohammad Asif
(chartered accountant)
(191 Points)
Replied 19 March 2012
there is no depreciation rate for livestock however depreciation is allowed as follows.
Cost of livestock = 100000
Proceeds from sale of remainings = 10000
of dead animal(livestock)
i.e leather etc.
Depreciation = 90000
in simple words you can say that depreciation is allowed at the time of death or selling of animals
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
CAclubindia
